U.S. Congress Allows Tax Credits, Tariff to Expire

On December 31, 2011, the 45¢/gal Volumetric Ethanol Excise Tax Credit (VEETC), the 54¢/gal tariff on imported ethanol as well as the US$1/gal biodiesel tax credit expired, as the U.S. Congress adjourned for the year earlier in December without passing extensions on any of the incentives.